McKesson and then partner Change Healthcare Holdings agreed to create Change Healthcare in 2017 after McKesson decided in 2016 to spin off much of its IT operations. The new company merged the majority of McKesson's Technology Solutions division and all of Change Healthcare Holdings' business -- the revenue cycle management firm formerly known as Emdeon. Under the terms of the agreement, McKesson owned approximately 70% of Change Healthcare.
The SEC filing proposal would allow McKesson stockholders to convert shares to Change stock. An exchange rate hasn't been set yet. McKesson will no longer have an ownership stake in Change once the transactions have been completed. It will also give up its three seats on Change's board.
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